PR Newswire | Oct 12, 2020 09:52AM EDT

September 2020

10/12 08:51 CDT

T. Rowe Price Group Reports Preliminary Month-End Assets Under Management for September 2020 BALTIMORE, Oct. 12, 2020

BALTIMORE, Oct. 12, 2020 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today reported preliminary month-end assets under management of $1.31 trillion as of September 30, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.5 billion in September 2020, and $2.4 billion for the quarter-ended September 30, 2020. This brings total client transfers for the year-to-date period ended September 30, 2020, to $11.2 billion. These client transfers include $0.1 billion, $1.6 billion and $7.7 billion, respectively, transferred to the target-date retirement trusts during the September, quarter-to-date, and year-to-date periods.

The firm's assets under management as of September 30, 2020, and for the prior month-, quarter- and year-end, by investment vehicle, asset class, and in the firm's target date retirement portfolios are as follows:

As of

Preliminary ^(a)

(in billions) 9/30/2020 8/31/ 6/30/ 12/31/ 2020 2020 2019

U.S. mutual funds

Equity $ 442 $ 456 $ 407 $ 407

Fixed income, including money 78 77 76 74market

Multi-asset^(b) 196 202 188 202

716 735 671 683

Subadvised and separate accounts andother investment products

Equity 344 353 312 292

Fixed income, including money 83 83 77 74market

Multi-asset^(b) 167 172 160 158

594 608 549 524

Total assets under management $ 1,310 $ 1,343 $ 1,220 $ 1,207

Target date retirement products $ $ 305 $ 284 $ 292 297

(a) Preliminary - subject to adjustment

The underlying assets under management of the multi-asset portfolios have(b) been aggregated and presented as a separate line and not reported in the equity and fixed income lines.

Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization that provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The organization also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

Supplemental Information

The following table reflects the data with the underlying assets under management of the multi-asset portfolios included within the equity and fixed income lines.

As of

Preliminary ^(a)

(in billions) 9/30/2020 8/31/ 6/30/ 12/31/ 2020 2020 2019

U.S. mutual funds

Equity and blended assets $ 587 $ 606 $ 544 $ 553

Fixed income, including money 129 129 127 130market

716 735 671 683

Subadvised and separate accounts andother investment products

Equity and blended assets 473 487 435 412

Fixed income, including money 121 121 114 112market

594 608 549 524

Total assets under management $ 1,310 $ 1,343 $ 1,220 $ 1,207

(a) Preliminary - subject to adjustment

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SOURCE T. Rowe Price Group, Inc.